Melinta Signs $90 Million Financing Agreement with Oberland Capital to Fund Baxdela™ Commercial Activities and Expansion into Additional Indications
Melinta Therapeutics, a privately held company developing novel antibiotics to treat serious bacterial infections, has entered into a loan and securities financing agreement with Oberland Capital Management, LLC (Oberland Capital). Under the terms of the agreement, Melinta is eligible to receive up to $90M in the form of debt and equity. A significant portion was funded upon the approval of the NDAs for Baxdela™ (delafloxacin), and the company may also draw down capital in three additional tranches at Melinta’s option and after the achievement of certain conditions. Proceeds from this financing will be used primarily to fund commercialization activities for Baxdela, which was recently approved by the U.S. Food and Drug Administration for the treatment of ABSSSI (Acute Bacterial Skin and Skin Structure Infections).